Elliott wave analysis of EUR/NZD for December 26, 2017


Wave summary:

Wave ii likely completed with the test of 1.6828 and we are now looking for a break above minor resistance at 1.6927 confirming wave iii higher towards at least 1.7368 is developing on the way higher to the long-term at 1.7777.

R3: 1.7064

R2: 1.6993

R1: 1.6927

Pivot: 1.6855

S1: 1.6828

S2: 1.6802

S3: 1.6780

Trading recommendation:

We are long EUR from 1.6873 With stop placed at 1.6795.

The material has been provided by InstaForex Company - www.instaforex.com